The scheme allowed people to invest in the construction sector without disclosing their source of income. A new report released by a think tank, Tabadlab, sheds some light on why Pakistan’s real estate sector could not develop. The paper has commented on the latest guidelines issued by the central bank on financing for construction sector projects by the banks. The report titled, “Central Bank as Real Estate Regulator: Can the SBP’s Latest Guidelines Help Meet the Housing Shortfall?”, written by Ibrahim Khalil, read that the central bank was overreaching its mandate by regulating the real estate sector through special guidelines. It added that dealing with a delinquent purchase was the jurisdiction of the Real Estate Regulatory Authority (RERA).

Source: The Express Tribune September 11, 2021 05:01 UTC